News:
Brokerage
Posted: June 30, 2008
Turley and Sullivan of Cronheim secure $32.64m for Va. hotel portfolio
David Turley and Frank Sullivan of Cronheim Mortgage have arranged $32.64 million in acquisition financing for a portfolio of two Fairfield Inns and a Hampton Inn. The financing is comprised of $30.72 million in senior debt and $1.92 million in mezzanine debt.
Turley and Sullivan arranged $11.12 million in senior financing and $695,000 in mezzanine financing for the Chantilly Virginia Fairfield Inn. The property consists of a three-story 85-room limited service hotel.
Turley and Sullivan arranged $9.44 million in senior financing and $590,000 in mezzanine financing for the Woodbridge Virginia Fairfield Inn. The property consists of a three-story 85-room limited service hotel located on Prince William Pwy.
Turley and Sullivan arranged $10.16 million in senior financing and $635,000 in mezzanine financing for the Woodbridge Virginia Hampton Inn. The property is a four-story 87-room limited service hotel.
Tags:
Brokerage
MORE FROM Brokerage
Marcus & Millichap brokers $16.25 million sale of Ponce Bank flagship headquarters in the Bronx
Bronx, NY Marcus & Millichap negotiated the sale of a net-leased bank property occupied by Ponce Bank. The asset sold for $16.25 million. “This property drew tremendous interest as it was a
Quick Hits
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking